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In the midst of India’s prolonged decline in exports, the Goods and Services Tax (GST) Council has implemented several measures aimed at stimulating foreign trade. One of these measures involves granting tax credits to service exporters who receive payments in Indian rupees. This move is particularly significant for trade with nations like Iran and Russia, […]
The upcoming meeting of the Goods and Services Tax (GST) Council, scheduled for Saturday, will address several important matters regarding tax rates. One of the key topics to be discussed is the taxation of millet-based product mixes. It is likely that the council will consider implementing a “zero tax” policy for millet products that are […]
According to sources, the proposal to reduce the goods and services tax (GST) rate on electric vehicle (EV) batteries has been rejected by the GST Council’s fitment committee. The Electric Vehicle industry had requested a reduction from 18% to 5% for GST on batteries, but the committee has recommended maintaining the current rate. Members of […]
The forthcoming GST Council meeting scheduled for October 7 brings potential good news for senior citizens, as there is a possibility of a reduction in the tax rate on health insurance premiums. It has been reported that the 52nd GST Council is considering a proposal to lower the GST rate on health insurance from the […]
On October 7th, the Goods and Services Tax (GST) Council, the central indirect tax authority, is scheduled to assemble to address issues regarding the establishment of GST appellate tribunals and their distribution nationwide. According to an official statement, millet flour in powdered form, comprising a minimum of 70% millet by weight, will be exempt from […]
On 2nd August 2023, the 51st meeting of the Goods and Services Tax (GST) Council took place in New Delhi via video conferencing. The meeting was chaired by Nirmala Sitharaman, the Union Finance Minister, and attended by other officials including Revenue Secretary Sanjay Malhotra, Union Minister of State for Finance Pankaj Chaudhary, and various state […]
The Goods and Services Tax (GST) Council, the federal indirect tax agency, has been urged to address the challenges faced by small enterprises and combat GST fraud. Amit Mitra, the principal chief advisor to West Bengal Chief Minister Mamata Banerjee, has written a letter to Union Finance Minister and GST Council Chairperson Nirmala Sitharaman, expressing […]
The 51st GST Council meeting on the date August 2nd, 2023 was conducted via video conferencing in New Delhi with Union Finance Minister Nirmala Sitharaman, presiding over the meeting with Union Minister of State for Finance Pankaj Chaudary, Revenue Secretary Sanjay Malhotra, and several state ministers. The gaming industry is quite disappointed with the GST […]
The GST Council has given relief to patients by exempting cancer medicine Dinutuximab and special food for treating rare diseases from GST. Dinutuximab, branded as Qarziba, is used to treat nerve cell cancer called neuroblastoma in patients over 1 year old. The medicine costs Rs. 36 lakhs and is imported by individuals for personal use. […]
